New Homes are still selling in Stockton and San Joaquin County - weekending 10/03/10

The southern San Joaquin County community of Manteca continues to be the New Homes "hot spot." No new releases were added to new homes inventory in San Joaquin County this week. On the plus side of economic indicators, both personal spending and income posted gains, out-performing expectations, according to the Wells Fargo Weekly Economic and Financial Commentary. Consumers continue being concerned about employment and income forecasts. Projections for income and employment six months from now both weakened, reflecting the slow economic growth expectation for the same time period.

The following information has been extracted from New Homes Sales and Marketing reporting companies and on-site visits for the week ending 10/03/10:

San Joaquin County: Total Projects Reporting: 25; Traffic: 198; Sales: 12; Cancellations: 2; Net Sales: 10; YTD Sales: 467

Focus on Stockton: Total Projects Reporting: 4: Traffic: 46; Sales: 1: Cancellations: 1; Net Sales: 0; YTD Sales: 71

Lathrop reporting 3 projects: 0 new releases, 16 in available inventory;

Linden reporting 1 project: 4 new releases, 4 in available inventory;

Lodi reporting 0 projects: no other information available

Manteca reporting 12 projects; 0 new releases, 98 in available inventory;

Mountain House reporting 4 projects: 0 new releases, 19 in available inventory;

Stockton reporting 4 projects: 0 new releases, 43 in available inventory;

Tracy reporting 1 project: 0 new releases, 5 in available inventory;